Poste Italiane closes on second quarter with Net income from €469 million, up 44% year-on-year. There was also a strong improvement in profitability, with the ebit which flies to 698 million (+62,7%). The half-year operating result, on the other hand, reaches 1,4 billion (+32,6%), the highest figure in the history of the group. As for the revenuesbetween April and June they rose by 5,1%, reaching 2,9 billion.
Sector trends: “payments & mobile” boom
Also in the second quarter, the group recorded a “solid performance of financial services – reads the note from Poste Italiane – thanks to the contribution of active portfolio management and a higher recurring interest margin": revenues from the sector amounted to 1,4 billion, an improvement of 10,5% on a year-on-year basis .
In the field "payments & mobile”, on the other hand, revenues “record an increase of more than 20% for the third time in the last four quarters”: +21%, to 250 million. The turnover from mail, parcels and distribution stands at 904 million, down 0,9% year-on-year, and that from Insurance services to 544 million, down by 1,2%. In general, "all business divisions are in line with the strategic objectives envisaged in the 24si plus plan", writes the company.
Target and dividend
As for the 2022 budget targets, Poste Italiane expects a Operating income “equal to double the 2016 level (€1,0 billion), with a constant track record in response to each macroeconomic context”.
On the front dividendsPoste Italiane recalls that €0,405 per share was paid in full in June, after the down payment of €0,185 per share already paid last November, for a total 2021 dividend of €0,590 per share.
Del Fante's comment
“We have once again started the first half of the year in a very positive way, with revenues and profitability up sharply compared to the same period of 2021 and the half-year group EBIT has reached a record level in the history of Poste Italiane,” he commented. Matthew Del Fante, CEO and general manager of Poste Italiane – The numbers speak for themselves: the performance was solid across the board, consistently above pre-pandemic levels, despite the uncertainties of the macroeconomic context and the complexity of the historical period we are in living. We are at a good stage in the execution of the “24SI Plus” plan, which further consolidates our leadership as a platform company”.
